A prominent Polygon developer, Bruno Skvorc, recently voiced strong criticism of
World Liberty Financial
(WLF), alleging that the company has seized his assets. In a
statement
shared on X (formerly Twitter), Skvorc stated:
“…they took my funds, and seemingly because of ties to the
@POTUS
family, there is little recourse.”
Skvorc is just one of numerous individuals, including
Tron
founder and WLF investor
Justin Sun, who have experienced the freezing of their digital holdings by WLF.
This decentralized finance (DeFi) platform has notable connections to the family of U.S. President
Donald Trump. Reports indicate that a Trump-affiliated entity controls a significant portion (60%) of WLF and benefits from a substantial share (75%) of the revenue generated from token sales. Furthermore, Donald Trump’s sons, Eric and Donald Trump Jr., reportedly hold management positions within the company. An estimate published in The New Yorker suggests that the Trump family may have received approximately
$412.5 million
from WLF.
Skvorc’s X post included an email response he received from WLF, explaining that they are “unable to unlock” his digital assets. The company justified the freeze by citing “high-risk blockchain exposure associated with” Skvorc’s digital wallet.
Polygon Developer Condemns WLF as “New Age Mafia”
Since initiating trading activities on September 1st, the WLF platform has reportedly blocked access to at least 272 digital wallets. Skvorc, in strong condemnation of the platform, labeled it “the scam of all scams,” further commenting:
“This feels like a new age mafia tactic. There’s no formal channel for complaints, no means of negotiation, and no legal avenue for recourse. It simply… exists.”
Skvorc is not alone in criticizing WLF’s asset-freezing practices. Justin Sun, who invested $45 million in WLF during the previous year, also voiced his concerns in an extensive X
post. He
stated
that his assets were “unjustifiably frozen.”
Sun emphasized the importance of “fairness, transparency, and trust” as the cornerstone of any respected financial brand, as opposed to actions “based on unilateral actions that freeze investor assets.” He warned that, “Such measures [freezing user assets] not only violate the legitimate rights of investors, but also risk damaging broader confidence in World Liberty Financials.”
Currently, the
WLFI
token is valued at approximately $0.19, which is over 67% less than its peak value attained on its initial trading day.
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WLF Defends Freezing Assets
In a recent statement on X,
WLF
defended its decision to block user wallets, stating:
“WLFI only takes action to safeguard users, never to interfere with legitimate activity.”
The organization further explained that such measures are taken “solely to prevent potential harm” while investigations are conducted and assistance is provided to affected users.
WLF also disclosed a breakdown of the blocked digital wallets, revealing that 79% were linked to a phishing attack. The firm stated that it had proactively frozen 215 wallets to prevent hackers from withdrawing funds, adding that they are working with the rightful owners to restore access to their assets.
According to the provided data, WLF blocked 50 wallets at the owner’s request after they reported their wallets as compromised. Only five wallets were flagged due to potential high-risk exposure, with their security risks currently under review, according to WLF.
Moreover, WLF blocked one wallet for suspected misappropriation of funds belonging to other users. The company affirmed its commitment to working with users to confirm ownership and secure funds, promising transparent updates for each category of wallets following the completion of reviews.
On-chain investigator ZachXBT acknowledged WLF’s approach but cautioned against the potential risks to reputation stemming from false positives related to blacklisting. ZachXBT emphasized that,
“The key challenge lies in the fact that most instances of “high-risk” exposure are often inaccurate, thus relying solely on compliance tools isn’t advisable for a team.”
ZachXBT stated that every top compliance tool contains flaws, and WLF’s actions were slightly better than companies like Circle, while warning that most teams can’t balance false positives appropriately.